Teradyne (TER) FY2015 results: revenue $1.6 billion, down 0.5% on the year
Teradyne, Inc. (TER) reported revenue of $1.6 billion for fiscal 2015, the year ended 31 December 2015, down 0.5% on the year before. Net income was $206 million, up 154.1%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$1.6 billion
-0.5% on the year
FY2008FY2015
Operating margin
14.8%
5.9% a year earlier
FY2008FY2015
Net income
$206 million
+154.1% on the year
FY2008FY2015
Diluted EPS
$0.97
+162.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,640
1,648
1,428
-0.5%
Cost of revenue
724
769
619
-5.9%
Gross profit
916
879
809
+4.2%
Gross margin
55.8%
53.3%
56.6%
Research and development
292
292
264
+0.2%
Selling, general and administrative
306
320
280
-4.2%
Operating income
243
96.4
191
+152.0%
Operating margin
14.8%
5.9%
13.4%
Interest expense
1.9
6.9
26.1
-72.9%
Pre-tax income
253
95.4
202
+165.4%
Income tax
46.6
14.1
37.0
+230.7%
Effective tax rate
18.4%
14.8%
18.3%
Net income
206
81.3
165
+154.1%
Net margin
12.6%
4.9%
11.6%
Diluted EPS
$0.97
$0.37
$0.70
+162.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
n/a
492
267
Capital expenditure
89.9
169
107
-46.8%
Free cash flow
n/a
323
161
Free cash flow margin
n/a
19.6%
11.2%
Cash from investing
n/a
n/a
-282
Cash from financing
n/a
n/a
17.3
Depreciation and amortisation
141
153
151
-7.7%
Share-based compensation
30.5
40.3
36.6
-24.5%
Buybacks
300
n/a
n/a
Dividends paid
50.7
37.4
n/a
+35.5%
Dividend per share
$0.24
$0.18
n/a
+33.3%
Diluted shares, weighted
213m
223m
236m
-4.1%
Shares outstanding at period end
204m
217m
192m
-6.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,966
2,079
1,985
-5.4%
Debt
0.0
0.0
187
Other liabilities
583
460
458
+26.8%
Total liabilities and equity
2,549
2,539
2,630
+0.4%
Fixed assets
273
329
275
-16.9%
Goodwill
488
273
362
+78.6%
Intangible assets
240
191
252
+25.8%
Investments
744
1,005
858
-26.0%
Cash and equivalents
265
294
342
-10.0%
Receivables
211
151
158
+39.9%
Inventory
154
105
138
+46.1%
Other assets
174
190
245
-8.7%
Total assets
2,549
2,539
2,630
+0.4%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.